I'm researching how to get small amounts of money out of China I've come across a few methods. Western union, Alipay and tearing your hair out at the Bank of China.
Any of you got any ideas?
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I'm researching how to get small amounts of money out of China I've come across a few methods. Western union, Alipay and tearing your hair out at the Bank of China.
Any of you got any ideas?
Send your wife to HK and open an account. You can export ¥310,000 per year. From there it's a piece of cake.
Quote:
Originally Posted by ZMC888
When you go back to the UK just take some cash, you are allowed to take $10.000 legally
Chinese citizen allowed to send USD 50,000 per year from their bank account to a private foreign bank account.
+1.Quote:
Originally Posted by blackened
Easiest method with least amount of bureaucracy aside from the 'golden cow'.
One local with ID card can remit USD50000 in one calender year.
Ch!nese citizen takes their ID card to bank, & opens separate bank account simply to deposit funds. That person then completes a form, the funds in newly opened account then goes through currency exchange (used to be physical cash in, cash out but this since changed) before TTF to nominated overseas account. Helps to have receiving banks SWIFT code. I use this method with my assistant. I go with her to the local BoC across the road from the hospital. I give her the cash, she deposits this via bank teller into her 'special' passbook account (no ATM card). She and I complete a one page form for the TTF info. Hands this back to teller, who then inputs this into the system. Make a choice as to purpose of TTF, and who pays the fees. Even I select to pay the transfer fees from this end, I still get slugged with the fees on the other end too. Since she has completed this for me multiple times, I was able to leave her some cash for a TTF to an overseas University, and she completed the transfer herself while I was away in Thailand during the past New Years...
Debit card from http://www.egbank.com.cn/ IS no handling fee outside China.
Not all banks allow foreigners to open accounts.Quote:
Originally Posted by humanbeing
I was investigating myself. For me the best way actually seems to just give a Unionpay debit card from a Chinese accont to a trusted relative back home. Unionpay cards since 2013 are accepted at all 'Link' ATMs in the UK and there are thousands of those everywhere, the transaction fees seem low and the exchange rates seem fair. Then my trusted relative can simply keep the cash to spend for themselves and pay credit into my UK account.
I'd rather there was away to do everything myself and not involve anyone else..but that seems impossible. :deal:
Try another...Quote:
Originally Posted by ZMC888
http://www.kuaiyilicai.com/bank/upatmcharge.html
FWIW any UnionPay ATM banking card can be used at participating overseas banks / ATMs - not just 'debit cards'.Quote:
Originally Posted by ZMC888
When I have been abroad in Thailand, OZ & NZ I've used my UnionPay ATM cards at different banks where the UnionPay logo appeared, to withdraw funds. There are daily limits though e.g. NZD500 /day at participating NZ banks. The daily limit is set by the Chinese bank, and not the overseas bank as I checked when I was last in NZ with the BNZ - who advised that the daily limit was set by Ch!nese side not NZ. I take 4 different Ch!nese banking ATM cards and simply withdraw the daily maximum on each card/account... soon adds up over a month or three :icon10:
Fees appear to be quite low too.
I have also taken out 100K kaui a couple of times. Declared it at the arriving airport, but can't recall if I've ever declared to the PRC Customs on departure.
Cheers. Good to know.Quote:
Originally Posted by bikerdoc
I pay my friend in cash they give me paypalQuote:
Originally Posted by ZMC888
Loose 4% but as each month i need to transfer about 1700¥ it works ok.
I have a storage unit in NZ and pay the rent monthly.
Where do you need cash?